EU, Eurozone Economic Sentiment Hits New Lows
The European Commission reported that the Economic Sentiment Indicator dropped by 1.5 points to 96.7 in the EU and by 1.6 points to 96.6 in the euro area. The decline reflects a clear divergence from the long-term average of 100.
The Employment Expectations Indicator also weakened, decreasing by 1.3 points to 97.3 in the EU and by 1.4 points to 96.4 in the eurozone, the European Commission said.
Meanwhile, the flash consumer confidence reading plunged. It fell by 3.4 points across the EU and by four points in the euro area compared with February, settling at minus 15.2 points in the EU and minus 16.3 points in the eurozone.
The European Commission noted that these consumer confidence levels mark their lowest point since October 2023.
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